Obama to Spend Billions on Oil Exploration...In Brazil

That’s right, the Wall Street Journal reports, $2 billion of your tax dollars will soon be going to the state-owned Brazilian oil company, Petrobras so they can explore the off-shore Tupi oil field in the Santos Basin. The WSJ wrote, “The U.S. Export-Import Bank tells us it has issued a ‘preliminary commitment’ letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount.” This money will come either in the form of a direct loan or loan guarantees.

That is a good question; here is the White House's phone number so you can ask them 202-456-1111. I’m sure they will answer since the website says, “President Obama is committed to creating the most open and accessible administration in American history.”